Factors Driving the Pest Control Market

According to a research report "Pest Control Market by Control Method (Chemical, Mechanical, Biological, Software & Services), Pest Type (Insects, Rodents, Termites, Wildlife), Mode of Application (Sprays, Traps, Baits, Pellets, Powder), Application and Region - Global Forecast to 2028" published by MarketsandMarkets, the pest control market is projected to reach USD 32.8 billion by 2028 from an estimated USD 24.9 billion in 2023, at a CAGR of 5.7% during the forecast period in terms of value. The utilization of pest control products and services is being driven by a number of factors that reflect the evolving needs and priorities of individuals, businesses, and industries. Heightened awareness of the health risks associated with pests and the diseases has spurred a greater demand for proactive pest management. Moreover, the increasing urbanization and population density in various regions have created an environment conducive to pest infestations, necessitating effective control measures.

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By application, the residential segment accounted for the largest share of the pest control market.

Pest control products for residential use are essential in maintaining a safe and comfortable living environment for homeowners. These products are designed to address common household pests, including insects like ants, cockroaches, spiders, and termites, as well as rodents like mice and rats. Thus, due to the increasing infestation by pests in residential areas, the utilization of pest control products in residential in expanding at a significant rate.

The insects segment accounted for the largest share of the pest control market by value.

The increasing urbanization and changing climate has increased the global insect population, which is driving the need for pest management, particularly for insects such as bedbugs, cockroaches, mosquitoes, flies, and others. Since insects’ cause irritation to livestock or humans and can be vectors of plant or livestock diseases, thus management of insect pests are essential, due to which the pest control market is anticipated to benefit.

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By mode of application, the sprays segment accounted to have the largest share in the pest control market.

Sprays are a preferred mode of application in the pest control market, owing to the high demand for liquid chemical formulations. Sprays give consumers a quick and easy way to apply pest control solutions, enhancing pest control and preventing property losses. The spray mode of application also allows for a uniform distribution of the pest control chemicals over the target area, which ensures that pests are exposed to the active ingredients consistently, increasing the effectiveness of the treatment. Moreover, with various nozzle designs and spray patterns, the spray formulations can be applied to specific areas that reduces the risk of non-target species exposure.

By control method, the chemical segment accounted for the largest share in the pest control market.

Chemicals are preferred due to their quick action and effectiveness in controlling pests. The use of chemical pesticides is widespread due to their relatively low cost, the simplicity of application, and their effectiveness, availability, and stability. Chemical pest control products also provide rapid control of pest populations, especially when dealing with immediate threats, outbreaks, or infestations. Moreover, Chemicals can provide a consistent and reliable means of pest control, since chemicals works regardless of weather conditions and can be applied at various growth stages of pests. Thus, these factors are driving the utilization of chemicals in pest control management.

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The North America region accounted for the largest market, in terms of value, of the global pest control market in 2022.

Due to several factors, the market for pest control is expanding in North America. As consumers look for pest control management, there is first a growing awareness of and adoption of sustainable pest control approaches practices in the area. The stringent regulations in various industries, such as food production, hospitality, and healthcare, have also played a significant role in the market's growth. Additionally, advancements in pest control technologies and methods have made treatments more efficient, targeted, and environmentally friendly, further boosting the market in North America.

The key players in this market includes Bayer AG (Germany), Corteva Agriscience (US), BASF SE (Germany), Sumitomo Chemical Co. Ltd. (Japan), Syngenta AG (Switzerland), Rentokil Initial plc (UK), Anticimex (Sweden), Rollins, Inc. (US), ATGC Biotech Pvt Ltd. (India), Ecolab Inc. (US), FMC Corporation (US), De Sangosse (France), Bell Laboratories (US), PelGar International (UK), and Fort Products Limited (UK).

Upcoming Growth Trends in the Precision Fermentation Ingredients Market

According to a research report "Precision Fermentation Ingredients Market by Ingredient (Whey & Casein Protein, Egg White, Collagen Protein, Heme Protein), Microbe (Yeast, Algae, Fungi, Bacteria) End User, Food & Beverage Application Region - Global Forecast to 2030" published by MarketsandMarkets, the global precision fermentation ingredients market size is estimated to be valued at USD 2.8 billion in 2023 and is projected to reach USD 36.3 billion by 2030, recording a CAGR of 44.0% in terms of value. Production of precision-fermented ingredients with a less carbon footprint is expected to drive the precision fermentation ingredients market. Growing demand for precision fermentation ingredients stems from its capacity to meticulously craft precise molecules and ingredients, fostering innovation across food, pharmaceutical, and cosmetics sectors, and enabling distinct and unparalleled product development.

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The Cosmetics & others segment is projected to grow at the highest CAGR in the precision fermentation ingredients market

The cosmetics & others segment is poised for remarkable growth, projected to achieve the highest CAGR in the precision fermentation ingredients market. This growth aligns with the 2022 cosmetic trend, driven by its profound and lasting benefits. Fermented cosmetic products offer deeper nourishment as the breakdown of substances enhances skin absorption of vital nutrients. Unlike non-fermented alternatives, these products ensure more nutrients effectively penetrate the skin. Geltor emerges as a key player in this domain, specializing in fermented cosmetics catering to hair and skincare needs.

The meat & seafood segment is expected to witness the highest CAGR in the food & beverages precision fermentation ingredients market.

Precision fermentation employs microorganisms like yeast, bacteria, fungi, and algae to create plant-based proteins and fats for meat alternatives. These alternatives offer meat-like tenderness, juiciness, and improved nutrition, aligning with the rising demand for sustainable and health-conscious food choices. The segment's growth implies the market's shift towards sustainable and healthier dietary choices, reflecting consumers' preferences for environmentally friendly and nutritious options.

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The heme protein segment is projected to experience the highest CAGR in the precision fermentation ingredients market

Precision fermentation ingredients harnesses microbial processes, predominantly employing genetically modified yeast strains such as Saccharomyces cerevisiae, to synthesize heme proteins. This method presents an eco-friendly and effective route for heme production, eradicating the need for animal-derived sources. The United States stands as a focal point for research and development in precision fermentation ingredients, notably in producing heme proteins for plant-based meat alternatives. Industry frontrunners like MycoTechnology Inc. and Impossible Foods, both US-based, exemplify the nation's leadership in propelling precision fermentation ingredients market progress. Driven by the expanding alternative protein realm, fermentation experiences a surge in demand due to robust technological strides across various food industry applications.

The bacteria segment is projected to grow at the highest CAGR in the precision fermentation ingredients market

Within microbe categories like yeast, fungi, bacteria, and algae, bacteria are extensively utilized in both anaerobic fermentation for organic acids and alcohols and aerobic fermentation for enzyme production. Lactic acid bacteria (LAB) and Bacillus species, including B. subtilis, B. amyloliquefaciens, B. licheniformis, and B. megaterium, contribute to lactic acid, antibiotics, enzymes, biopolymers, and surfactins production. Companies like Perfect Day incorporate microbes, even archaebacteria, into their products. Archaebacteria differ chemically, reproducing asexually and utilizing diverse energy sources, dating back to Earth's earliest life forms, preceding bacteria.

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The Asia Pacific region is projected to grow at the highest CAGR in the precision fermentation ingredients market during the forecast period

The key factors driving the Asia Pacific precision fermentation ingredients market are the rapid urbanization and changing lifestyles that have led to an increased demand for specialized products, such as alternative proteins and sustainable ingredients, which precision fermentation excels in producing. The region's focus on technological advancements and innovation aligns with precision fermentation ingredient's cutting-edge nature, fostering a thriving ecosystem for research and development. Additionally, Consumer willingness to adopt innovative products is evident across countries, extending beyond curiosity to active purchasing intent. Also, investments and expansions in the region drive the growth of the Asia Pacific market.

This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Geltor (US), Perfect Day, Inc. (US), The Every Co. (US), Impossible Foods Inc. (US), and Motif FoodWorks, Inc. (US).

Growth Strategies Adopted by Major Players in the Lecithin and Phospholipids Market

By 2027, the global lecithin and phospholipids market is anticipated to have grown from its value of $5.5 billion in 2022 to $7.5 billion, expanding at a compound annual growth rate of 6.3%. The Asia Pacific region is predicted to hold the biggest market share globally in 2022. Lecithin is being used more frequently in bakery and confectionery, convenience meals, and feed products as a result of the growing desire for natural ingredients. The demand for lecithin as a food additive in the food and beverage sector appears to be driven by the rising number of eating establishments and foodservice businesses.

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The global lecithin and phospholipids industry is driven by shifting consumer preferences to convenience food, changing work culture, and expansion of the retail industry globally. However, health issues associated with the consumption of genetically modified (GM) products are expected to restrain the market growth.

The market for lecithin and phospholipids is expected to grow in the coming years, driven by increasing demand for natural and healthy food ingredients, rising popularity of functional food and dietary supplements, and growing awareness about the health benefits of phospholipids. These ingredients are used in a variety of applications such as functional foods, infant formula, pharmaceuticals, cosmetics, and animal feed. The Asia-Pacific region is projected to be the largest market for lecithin and phospholipids, due to the growing demand from countries such as China and India.

Opportunities: Emerging markets and changing consumer lifestyles

The trend of consumer preference for low-fat products is rapidly rising, and marketing campaigns are planned around highlighting their use and health benefit claims. Cargill (US) produces lecithin that functions as a low-fat dressing, gaining the attention of those who aim to produce low-fat food products.

The demand for low-fat products may be driven by the increase in processed food production and innovation in almost all segments, such as meat products, dairy, and bakery & confectionery products. However, the demand for the usage of lecithin is expected to grow continually in early adopting countries such as Japan, and exponential growth is projected in new and emerging markets such as Australia and other Asia Pacific countries.

In addition, Asia provides a cost advantage in terms of production and processing. High demand, coupled with low cost of production, is a key feature, which would aid lecithin suppliers.

By nature, GMO is the largest segment in lecithin market in 2021

The GMO segment is estimated to dominate the lecithin market in 2022. GM oilseeds such as soybean, sunflower, and rapeseed are used for extracting lecithin, a natural emulsifier utilized in various industries. Today, 90% of commercially available lecithin is extracted from soy and sunflower. Lecithin has a dual function in food as an emulsifier and healthy ingredient. Because of its lipid-friendly and hydrophilic properties, lecithin is used in many foods and other areas of the industry.

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By region, Asia Pacific is projected to grow at the highest CAGR during the forecast period

Asia Pacific accounted for 33.9% of the lecithin market in 2021. In the Asia Pacific region, lecithin is gaining popularity due to busy lifestyles, urging consumers to opt for on-the-go and RTE products. The demand for lecithin is expected to increase in the coming years due to the growing population and increasing per-capita income of consumers, based on a World Bank report. Moreover, export opportunities of non-GMO lecithin from countries such as India to the European market are expected to drive the lecithin market in the region.

Growth Strategies Adopted by Major Players in the Plant-based Meat Market

The global plant-based meat market is estimated to be valued at USD 7.9 billion in 2022. It is projected to reach USD 15.7 billion by 2027, with a CAGR of 14.7%, in terms of value between 2022 and 2027. There is a growth in the vegan and flexitarian population, a rise in awareness about the health benefits of plant-based meat over animal-based meat products, an increase in investment by government bodies and R&D activities, and investment of the major food industry giants in plant-based meat products. These factors together are propelling the plant-based meat market.

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Opportunities: Increase in consumers’ focus on meat alternatives

Various food products such as meat patties and sausages are being replaced by plant-based/plant-infused meat products, considering the growing health awareness among consumers, which is expected to drive demand for plant-based meat products. According to The Food Science and Health Database Organization, in 2018, “22 million UK citizens now identify as being a ‘flexitarian,’ viewed not as a fad diet, but instead, a permanent lifestyle choice, notably most popular among highly influential millennials.” Thus, the increasing vegan and flexitarian population is a big opportunity for plant-based meat manufacturers in the industry during the forecast period.

Challenges: Perception regarding the taste of plant-based meat products

Consumers perceive that there is a significant compromise in taste if they opt for meat substitutes. For instance, the off flavor of soy protein makes it undesirable for consumption. The off-flavor is caused by compounds such as aldehydes, ketones, furans, and alcohol. Medium-chain aldehydes are among the major reasons for soy products' beany and grassy taste.

The food retail segment among distribution channels is estimated to have the largest market

Based on the distribution channel, the food retail segment is estimated to account for the largest share of the plant-based meat market in 2022. Food retail refers to operating retail, supermarkets, hypermarket stores, and other stores where various products, such as grocery items, vegetables, uncooked meat, and frozen products, are made available to consumers. The distribution channel is already popular among consumers worldwide due to the wide availability of various products. Therefore, this distribution channel is being used by established plant-based meat companies and startups to increase the penetration of their products in the market, making it the largest segment during the forecast period in the plant-based meat market.

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Europe region holds the largest share in the plant-based meat market

The European plant-based meat market accounted for the largest market share in 2020. This dominance is attributed to the rising health concerns among consumers regarding meat products and the exponentially growing veganism trend in the region. Furthermore, European plant-based meat manufacturers focus on developing innovative products backed by appropriate research and development facilities available in the region. Several European retailers and supermarkets have added plant-based meat products to their product range to cater to the rising demand for plant-based meat products across the region.

This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Beyond Meat (US), Kellogg Company (US), Impossible Foods Inc. (US), Maple Leaf Foods (Canada), Unilever (UK), Conagra Foods (US), Tofurky (US), Gold&Green Foods Ltd (Finland), Sunfed (New Zealand), and Monde Nissin (Philippines).

Growth Strategies Adopted by Major Players in the Pest Control Market

The global pest control market is projected to reach USD 29.1 billion by 2026, at a compound annual growth rate (CAGR) of 5.1% during the forecast period. It is estimated to be valued USD 22.7 billion in 2021. Pest control has witnessed strong growth due to public health concerns and an increase in the frequency of pest infestations due to climate changes. In countries such as the US, strong regulatory requirements concerning pest control and environmental protection laws have helped bolster the market demand and attract service providers to set up business units. With the rise in demand and preference for a clean and pest-free environment, pest control manufacturers and service providers have been strategizing on coming up with innovative solutions for the market at a reasonable price. The surge in global Internet penetration would be another influential trend in driving the market in terms of value sales. Manufacturers and distributors make the best of the Internet in spreading awareness about their products and services among target consumers and simultaneously generating revenue sales.

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Restraints : High registration costs and interminable time for product approval

Strict and rigorous regulatory requirements in the environmental protection sector apply to the manufacturer’s production processes and environments. Moreover, these vary with the policies of each country. The usage of pest control products is subject to registration by health, environmental protection, and pest control agencies in various countries.

Governments evaluate the policies related to the purchase, registration, formulation, application, and disposal of pesticides. Government policies affect the demand and prices of pest control products. For instance, in the US, the use of pest control products is monitored by the EPA (Environmental Protection Agency) at a national level. It is subject to further regulation by state-level authorities.

By mode of application, powder witnesses increased demand from the residential sector

Powder is a popular form of insecticide used by pest control service providers. It is primarily used in the control of common pests such as ants, beetles, and cockroaches. The active ingredient differs based on the pests against which it is used. Common active ingredients such as cypermethrin and hydramethylnon are used in powder formulations. Powder formulations, even though effective, are also heavily regulated; for instance, hydramethylnon is classified by the US Environmental Protection Agency (EPA) as a potential carcinogen despite its minimal risk to humans; however, strict guidelines are to be followed by service providers to minimize the risk to humans and the surrounding environment. Powder formulations can be deployed for use in residential, commercial, and other settings, including transport facilities, to reduce or eliminate pest infestations.

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North America dominates the pest control market

The pest control market is dominated by a few pest control service providers such as Rollins, ServiceMaster Global Holdings, Rentokil Initial, and Ecolab. Apart from these major players, there are many local players in the market. Many major players are acquiring or collaborating with local players to increase their market shares, enhance their service portfolios, and strengthen their presence.

For instance, on 1st March 2019, Rentokil Steritech (US) acquired Virginia-based Loyal Termite & Pest Control (US). It would help Rentokil to expand its service in Virginia. Insects are the most found pests in the region. With increasing temperatures, the problem of bed bug infestation and termite infestation has increased in the North American region. The US is the dominant market in North America. Consumption of pest control products in the US is comparatively higher than in other countries. Although the diversity of termites in the US is low compared to other regions, globally, due to increasing temperatures, termite colonies have been spreading across the US.

The key players in this market include Bayer AG, Corteva Agriscience, BASF, Sumitomo Chemical Co., FMC Corporation, Syngenta AG, ADAMA, and Bell Laboratories. These players in this market are focusing on increasing their presence through agreements and collaborations. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.

Benzenoid Market Will Hit Big Revenues In Future

The benzenoids market is projected to grow at a CAGR of 5.6% to reach USD 857 million by 2025. The global industry was estimated to be valued at USD 651 million in 2020. The steady onset of factors such as rise in consumption of processed food products, shifting flavor & fragrance trends and steady growth in the personal care products in the global benzenoids markets, particularly in emerging and developing markets have triggered demand for quality benzenoid chemicals.

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Driver: Shifting flavor & fragrance trends and preferences amongst populations globally

The global choices and preferences related to taste and aromas are changing rapidly with changing marketing trends, mindsets and increasing expenditure on lifestyle. As per the 2018 report of “Innova Market Insights” 64% of US consumers state that they “love to discover flavors from other cultures,” Dull flavors are being reinvented and more retail products and restaurants are highlighting ethnic flavors or street flavors. Unique scents and attractive designs have pushed the home fragrance market to its strongest position yet. While over the years traditionally rooted fragrances like jasmine and sandalwood have had a distinct contribution, especially for soaps, a combination of fruity-floral fragrances are now gaining traction with marketers wooing younger consumers.

Restraint: Potential health risks of synthetic chemicals affecting production growth

The genotoxicity and carcinogenicity are the key factors that are taken into consideration to determine the safety of the chemical use. Companies that manufacture perfume or cologne purchase fragrance mixtures from fragrance houses to develop their own proprietary blends. Benzenoids as food additives and fragrance ingredients are regulated as some of them pose potential risks to human health at defined concentrations. Organization such as US FDA (US Food & Drug Administration), EU Commission, IFRA (International Fragrance Association) set standards and guideline for manufacturers in order to control the possible health risks due to overuse of aroma chemicals in food and fragrance products.

By Application , the soaps & detergents sub-segment is estimated to observe the fastest growth in Benzenoid Chemicals market.

The aroma in soaps and detergent products is bought about by the use many natural and synthetic compounds. The generally used natural compounds include oregano oil, lemon oil, coconut oil, camellia oil, and coffee essential oil amongst others. During the spread of coronavirus pandemic, the significance of soaps and detergents for hygiene purposes grew tremendously giving a boost to the sales of the industry. With organizations such as American Centers for Disease Control and Prevention, promoting hand hygiene through use of soaps and clean running water the benzenoids market grew faster in the pandemic time.

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The increasing exports of the region of benzenoid chemicals to the North American and European regions, accounts for the high market share of the region.

China ranks first in terms of imports and exports of organic chemicals globally. The global chemical industry has seen a 7% annual growth rate. countries such as China, Japan, South Korea, Indonesia are doing exceedingly well in the cosmetics, beauty and personal care products market. According to Istrata reports, Southeast Asia revenue in the Beauty and Cosmetics segment amounts to USD25.449 billion in 2020 where 74% of sales contribute to mass-marketed cosmetics and 26% on luxury items. Thus the region accounts for the largest market shares in the global benzenoid market.

Nematicide Market Will Hit Big Revenues In Future

The nematicide market is projected to reach USD 3.0 billion by 2027, recording a CAGR of 9.9% during the forecast period. The global industry is estimated to be valued at USD 1.9 billion in 2022. Nematodes are non-segmented, bilaterally symmetric worm-like invertebrates that lack respiratory and circulatory systems but have a body cavity and a fully functional digestive system. It is difficult to create chemical countermeasures against worms that infests plants. It is challenging to administer a chemical to a nematode's immediate surroundings since most Phyto-parasitic nematodes spend their whole lives isolated to the soil or inside plant roots.

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Opportunities: Providing customized solutions targeted toward specific pests

With the growing environmental and pollution concerns and health hazards from many conventional agrochemicals, the demand for natural biologicals is rising steadily across regions. Customers are witnessing a high demand for new biological products such as bionematicides to use against nematodes on standing crops, which cause crop damages, thereby reducing the overall farm yield and quality. One such innovative method is seed treatment, which is gaining traction due to its less or non-toxic nature, reduced cost of cultivation, and favourable effect on the yield and quality of crops. Moreover, seed treatment is targeted toward the desired pests and improve efficiency in nutrient uptake.

The use of biologicals and related alternative management products is increasing. R&D teams of major global players are also engaged in discovering target-specific innovative products by using biological insecticides, which promote organic agriculture. For instance, Crop IQ Technology announced the release of NEMA-DEAD in 2018, the world's first organic nematicide combining chemicals and natural nematicides in a single formula. NEMA-DEAD is therapeutic like chemical nematicides and preventive like biological nematicides, with no residuals. It does not produce stress on treated plants and contains bio stimulants that help wounded bio-stimulants biotic challenges.

Root-Knot segment accounted for the largest share in the global nematicide market by nematode type in 2021

The nematicide market has been segmented by nematode type into root-knot nematodes, cyst nematodes, lesion nematodes and others (Stubby root and stem nematodes). In 2021, the root-knot segment dominated the global nematicide market with a share of 41.6 %, followed by cyst nematodes with a share of 29.5 % and lesion nematodes with a share of 17.4 %. Root-knot nematodes are major nematode types and are impacting yield losses in high-value cash crops, such as onion, winter wheat, onion, tomato, and hot pepper. Cyst nematodes are most prevalent in Europe and are found across the globe. 

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North America dominated the nematicide market, with a value of USD 0.54 billion in 2021; it is projected to reach USD 0.91 billion by 2027, at a CAGR of 9.4 % during the forecast period.

The US is one of the largest soybean producers and its by-products and contributes to a significant share in the oilseeds market. While a major portion of the demand for oilseeds is from the food and feed industries, the regulatory framework for the biofuel sector of Mexico has been changing. The scope for oilseeds in the biofuel sector is also changing. Canada has been experiencing a high demand for grains, stemming from the livestock industry. The countries are not self-sufficient entirely and depend on imports from the South American countries such as Brazil and Argentina.